Artificial intelligence is already causing significant disruption in the job market, with economists and consultants facing uncertainty about their employment prospects. The industry reports that big firms are slowing hiring, government layoffs are on the rise, and smaller companies are rethinking their business models to stay competitive.
According to labor economist Betsey Stevenson, the advent of AI is “impacting the market for high-skilled labor,” making it harder for economists to find work. Consultants like those at McKinsey are struggling to adapt, with some experts predicting that AI will replace human consultants entirely.
However, not all jobs are at risk. Certain professions, such as floor sanders and finishers, roofers, and motorboat operators, are less likely to be automated. Instead, companies may focus on providing a safety net for displaced workers through programs like ObamaCare, but these measures have limitations, particularly for younger workers who don’t qualify for Social Security.
The AI Futures project’s report “AI 2027” predicts that the impact of superhuman AI will be enormous, exceeding that of the industrial revolution. The authors warn that AIs will begin training other AIs in 2025 and coding automation by 2026, sparking a debate about the future of work.
As politicians struggle to prepare for this shift, many are unprepared for the scale and depth of disruption. Without massive “reskilling and vocational education efforts” and transitional income safety nets, workers may be left behind.
In an interview with ChatGPT, AI acknowledged that job loss is likely in the next few years, as routine knowledge work becomes automatable. It also suggested exploring profit-sharing mechanisms to mitigate the impact of AI on workers’ livelihoods.
Source: https://www.hindustantimes.com/technology/ai-is-here-and-a-quiet-havoc-has-begun-101754645197037.html